CRYPTO NEWS

Voyager Digital seals $200M and 15,000 BTC loan deal from Alameda Research

Voyager Digital has secured a loan facility agreement with Alameda Research, in a deal that the brokerage platform says will help it better protect its customer assets amid the current market conditions.

$200 million in cash/USDC and 15,000 BTC

Voyager announced on Friday that it had sealed “a non-binding term sheet” with trading firm Alameda Research, securing a revolving line of credit that offers access to fresh capital should it be needed.

According to the company, the loan facility will be used to provide a safety net around customer assets as the market navigates the current volatility.

The credit facility comes in two parts, with the first being a $200 million loan agreement denominated in cash or the USDC stablecoin. In addition to that, Voyager and Alameda have agreed on a further 15,000 Bitcoin (BTC) credit facility. 

The two facilities’ term expires on December 31, 2024 and will attract an annual interest of 5% to be paid on maturity.

Voyager is “well capitalized”

Turbulence in the crypto markets has had a drastic impact on companies and projects, with the recent upheavals for Celsius and 3AC pointing to potential contagion. 

In light of this, the Voyager team provided an asset and risk management update earlier in the week, seeking to assure its customers that all was well.

Apart from stating that it had no assets with Celsius, Voyager CEO and co-founder Steve Ehrlich noted:

The company is well capitalized and in a good position to weather this market cycle and protect customer assets. It is Voyager’s goal to continue to build secure products and services, as well as build trust and leadership in the cryptocurrency industry.”

The company has over $200 million on its balance sheet, it said on Friday.

The post Voyager Digital seals $200M and 15,000 BTC loan deal from Alameda Research appeared first on CoinJournal.

Does Sentiment Shifting Slowly Signal A Crypto Recovery Ahead?

The crypto market has lost momentum after the extended weekend in the United States. Bitcoin and other larger cryptocurrencies have been recording losses during today’s trading session and could continue to trend downside in the short term. Related Reading | TA: Ethereum Regains Strength, Showing Early Signs of Fresh Rally At the time of writing, the::Listen

The crypto market has lost momentum after the extended weekend in the United States. Bitcoin and other larger cryptocurrencies have been recording losses during today’s trading session and could continue to trend downside in the short term.

Related Reading | TA: Ethereum Regains Strength, Showing Early Signs of Fresh Rally

At the time of writing, the crypto total market cap stands at $860 billion with sideways movement over the past weeks. This metric has been trending to the downside since late 2021, but took a severe loss in April-May 2022, as seen in the chart below.

The crypto total market cap trends to the downside on the 4-hour chart. Source: Tradingview

As a consequence, the general sentiment across the crypto market trended to the downside and recorded extreme fear levels on the Fear and Greed Index. The price of Bitcoin and other larger cryptocurrencies often finds a local bottom or top when the Index stands close to 10 or 80 respectively.

The crypto market did find a bottom in June when BTC’s price traded close to $17,000 and pushed the Fear and Greed Index to extreme levels. Since that time, the number one cryptocurrency has pushed the market slightly upwards and has been forming a new range between $18,600 and $21,000.

These levels stand as the major area of resistance along with $22,000. Market participants seem more positive on a probably break above these levels, according to a recent report from Arcane Research. The first stated the following on the shift in market sentiment over the past weeks:

The sentiment in the crypto market has been depressed for several months, but we’re seeing a slight improvement this week. After the Fear and Greed Index climbed to 19 yesterday, we’re at the highest point in two months. While we’re still comfortable in the “Extreme Fear” area, we’re now pushing towards the “Fear” area, and the market is slightly more optimistic (…).

Source: Arcane Research
Ready For More Crypto Downside?

The crypto total market cap and the performance of the altcoin market are bound to BTC, ETH, and larger cryptocurrencies. As NewsBTC has been reporting, the sector is currently impacted by macro-economic factors; rising inflation, and interests rates hikes by the U.S. Federal Reserve (FED).

These factors’ influence over the market must mitigate before the nascent asset class can decouple from traditional finances. In the meantime, any bullish momentum will remain susceptible.

Related Reading | Cardano Releases New Update On Testnet, How Will The Price Respond?

If the price of Bitcoin is unable to push above $22,000 soon, the market could see a decline in the Fear and Greed Index. Data from Material Indicators and their Trend Precognition Indicators suggest it is likely to see a re-test of lower levels. Via Twitter, the analysts wrote:

BTCUSDT and ETHUSDT were both rejected at the 21 Day Moving Average and now we see the Trend Precognition A1 Slope Line rolling over on the D chart indicating a short term loss of momentum.

Voyager Digital seals $200M and 15,000 BTC loan deal from Alameda Research

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